Visa has entered into a partnership with ChatGPT-maker OpenAI to enable secure payments for commerce supported by artificial intelligence (AI) agents, according to a statement from the credit card firm on Wednesday.
The partnership, announced at the Visa Payments Forum in San Francisco, will integrate Visa's payment capabilities into OpenAI experiences, allowing developers and businesses to accept Visa payments initiated by AI agents.
The partnership will enable seamless and secure payments across OpenAI, as Visa will contribute to AI-agent-enabled commerce experiences via its global payment network, payment authentication and authorization capabilities, and security infrastructure.
The partnership was launched as part of Visa's "Intelligence Commerce" solution, focusing on extending the firm's secure payment capabilities to new digital spheres.
Visa and OpenAI will focus on various enterprise-level use cases, including developer-focused experiences like Codex and more automated and conversation-based workflows.
OpenAI will provide the conversational interface enabling user interaction, while Visa will provide the payment network, tokenization, and risk management forming the foundation of secure transactions.
Transactions will be made with permissions, rules, and user-defined controls in mind, such as spending limits, merchant categories, or approval mechanisms.
Tokenized Visa payment instruments will be used for payments, while transactions will be monitored by real-time controls and fraud detection systems, ensuring security and consumer protection in these new AI-powered payment experiences.
Samile Mumin, general manager of Visa Türkiye, said in the statement that AI will transform commerce more than the internet or mobile technologies did in the past, saying that Visa is focused on ensuring secure and seamless transactions as the core of the infrastructure it is building with partners like OpenAI.
Marco Mahrus, head of partnerships and commerce at OpenAI, said commerce will take place in far more locations and in vastly different forms in the future, as AI agents will play an increasingly important role in tasks ranging from purchase and payment transactions to more complex financial processes.
